There's Holy Grail out there, waiting to be found by wine-lovers. It's like a mirage too; you can get close, but somehow you're never quite there. What I'm looking for, of course, is an amazing red wine that's complex and subtle, abounding with finesse, and costs next to nothing. It's a search that takes you to specialist shops, off-licenses and supermarkets, makes you try yet another Greek hopeful, and such is the power of this vision of the possible, it even has you half-believing that something that comes from Bulgaria at £4.99 might be a contender. It would be so easy to get disillusioned and give up, except for the fact that you keep coming close. But the fault in this hopeful reasoning is simple; anything that's good gets recognised, and once it's recognised, the price goes up. Your only hope is to be ahead of the posse, to find a wine that hasn't yet been discovered and buy it while it's still cheap.

Which is why finding a bargain in the French selection is almost impossible. Their wines are too well known, their good points too well understood and their marketing too expert. So with this in mind I've been tasting some South American reds, from Chile and Argentina. My goal was wines under a tenner, but all of these are under £9 and they're available in most of Dunne's Stores outlets.

Santa Isabel Barbera 1999, Argentina

The cheapest of them all at £5.49. Probably improved by decanting, it's medium bodied and quite long in taste. It has a dry finish and no pronounced fruit. A fairly typical example of the Barbera grape from a warm climate.

Altos de Temporada 1996 Reserva, Argentina

This is a Malbec varietal with a price tag of £8.49. It's a deeply coloured wine with fruity flavours and aromas. Certainly it's a well-made wine and I was enthusiastic about it until I tasted the others.

Las Casas del Toqui Cabernet Sauvignon Grande Reserva 1999, Chile

Probably the best value for money in this list at £7.99. It's well-balanced between fruit and acidity, full-bodied and full of fruit flavours. I tasted it while enjoying some Wicklow lamb and I thought it made a fine accompaniment.

Altos de Temporada Cabernet Sauvignon Reserva 1997, Argentina

Much more austere than the others, this wine is in the more classical European mould. It's strong in tannin and has a very dry finish, making it a wine suitable for accompanying food, but not drinking by itself. It comes with a price of £8.50

Las Casas del Toqui Cabernet Sauvignon Prestige Reserve 1998, Chile

At £8.49 it shares the highest price with the Argentinian Malbec, but this wine is in another league and is therefore Wine of the Week. I suspect if you decanted this and gave it most people they'd rate it as a much more expensive wine than it is. It shows a complex range of tastes, with fruits and berry flavours predominating. It has all the freshness that you expect from the New World, but none of the brashness. It's beautifully balanced and at this price it's remarkable value for money.